Financing Farming

ow the idea of financing your farm may seem daunting at first, but luckily there are opportunities available for budding farmers in Jamaica, and the Caribbean, that can give you the boost you need to expand your operation. We invite you to consider taking a look at this exciting offer from the National Commercial Bank Jamaica Limited (NCBJ) in partnership with the United States Agency for International Development (USAID):

With interest rates as low as 6.5% (on JMD loans), and up to 15 years to repay, the SME Development Loan Fund is developed specifically to support medium-sized businesses in any productive sector; agro-processing, manufacturing/ distribution, renewable energy, tourism, or export in select Caribbean countries with collateral constraints.

Eligible applicants can access funding for Energy Savings Projects, Clean Energy Production Projects and Other Projects such as working capital support, investments in machinery, equipment, facilities, business expansion and small-scale irrigation systems.

Under the agreement, USAID will provide a 50% loan guarantee up to a loan portfolio limit of US$25M (J$3.4B).

Who is Eligible:

Registered SMEs operating in Jamaica and other select Caribbean countries including Barbados, The Bahamas, St. Lucia, and Trinidad and Tobago. SMEs having no more than 250 employees and gross annual sales of up to J$1.25B (or US$ equivalent).

NCB SME customers and SMEs at other banks are able to apply.

Individual/Business Loan & Guarantee

Amounts:

- Minimum Loan Amount: J$ Loans 500,000 | US$ Loans 3,500.

- Maximum Loan Amount*: J$ 690M | US$5M.

- Maximum Guarantee Amount**: J$345M | US$ 2.5M.

*Subject to 90% of the total project cost, whichever is lesser.

** Subject to 50% of the loan amount, whichever is lesser.

Ready to Grow?

Text “USAID” to 876-383-1729 or speak with a business banker at your nearest NCB branch!